Markets Live: Aussie surges amid Trump slump
![Aussie rising: the local dollar is the biggest winner against the greenback this week.](/web/20170112234355im_/http://www.smh.com.au/content/dam/images/g/m/o/3/9/c/image.related.landscape.120x80.gtqmko.png/1484264163812.jpg)
Shares have opened lower, pulled down by the big banks as the Trump trade of the past months shows more signs of unwinding.
Shares have opened lower, pulled down by the big banks as the Trump trade of the past months shows more signs of unwinding.
Bank of America calls it the Icarus Trade: global stock markets will surge another 10 per cent in a "melt-up" this quarter, followed by a mirror "melt-down" later in 2017. HSBC's latest global outlook is even darker.
George Soros lost nearly $US1 billion as a result of the stockmarket rally spurred by Donald Trump's surprise presidential election, the Wall Street Journal reported.
The lockstep moves in financial assets that characterised markets in the past few years are breaking down.
The US Q4 earnings season really kicks into gear tonight, with Bank of America (22:45 aedt) and JPM (00:00 aedt) starting the proceedings.
​The European Central Bank should start unwinding its ultra-loose monetary policy this year, said Germany's finance minister.
Turkey's central bank finally gained traction in its efforts to prop up the lira.
​Chinese rebar steel futures rose for a fourth session amid Beijing's campaign to pare excess steel production capacity.
Shares have opened lower, pulled down by the big banks as the Trump trade of the past months shows more signs of unwinding.
The S&P; 500 and the Dow were set for their worst day since October as bank stocks tumbled ahead of earnings.
Oil climbed after Saudi Arabia said it cut its production even more than required by an OPEC deal.
The Aussie has surged above US75¢, extending its advance so far this year to more than 4 per cent on the greenback's woes.
The Obama administration filed a new complaint against Chinese aluminium subsidies at the World Trade Organisation.
Turkey's central bank finally gained traction in its efforts to prop up the lira.
Currencies | Buys ($AU1) | Sells ($AU1) | $ Mvmt | % Mvmt |
---|---|---|---|---|
AUD/USD | 0.7483 | 0.7482 | 0.0000steady | 0.00% steady |
AUD/EUR | 0.7051 | 0.7049 | 0.0004rise | 0.06% rise |
Updated: January 13, 2017 - 10:13AM |
Sector | Turnover ($AU) | Volume | Trades |
---|---|---|---|
Market total | 530,809,929 | 640,967,846 | 116,421 |
Industrial | 353,240,766 | 78,369,537 | 86,358 |
Mining | 175,879,193 | 562,242,025 | 29,583 |
David Samra, awarded for his stock-picking during and after the 2008 financial crisis, says now's the time for a steady hand and no emotion.
The Sydney software company just released its first quarterly earnings report since listing on the Nasdaq late last year.Â
Markets are in a well-oiled "death spiral," analysts at Citigroup say.
Code | Name | New Highs | Last Week | Last Month |
---|---|---|---|---|
ZNT | ZENITAS HEALTH LTD | 0.980rise | 0.046 | 0.046 |
UEQ | URANIUM EQUITIES | 0.018rise | 0.007 | 0.007 |
AGO | ATLAS IRON LIMITED | 0.050rise | 0.033 | 0.031 |
AGE | ALLIGATOR ENERGY | 0.022rise | 0.015 | 0.018 |
ERA | ENERGY RESOURCES | 0.710rise | 0.515 | 0.530 |
TMM | TASMANIA MINES LTD | 2.230rise | 1.680 | 1.645 |
BMN | BANNERMAN RESOURCES | 0.050rise | 0.039 | 0.033 |
CIA | CHAMPION IRON LTD | 0.620rise | 0.500 | 0.520 |
EME | ENERGY METALS LTD | 0.105rise | 0.085 | 0.080 |
TLG | TALGA RESOURCES | 0.400rise | 0.325 | 0.320 |
Updated: January 13, 2017 - 10:43AM |
Code | Name | New Lows | Last Week | Last Month |
---|---|---|---|---|
CGN | CRATER GOLD MIN LTD | 0.036fall | 0.041 | 0.037 |
CZL | CONS ZINC LTD | 0.026fall | 0.028 | 0.028 |
AWQ | AROWANA AUS OPP | 0.865fall | 0.930 | 0.895 |
Updated: January 13, 2017 - 10:41AM |
Company | Security Code | Float date | Issue $ |
---|---|---|---|
Ardea Resources Ltd | ARL | 09/01/2017 | 0.20 |
Blockchain Global Ltd | BCG | 0.20 | |
Blackstone Minerals Ltd | BSX | 20/12/2016 | 0.20 |
Cobalt Blue Holdings Ltd | COB | 19/12/2016 | 0.20 |
Davenport Resources Ltd | DAV | 27/10/2016 | 0.75 |
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